New York Prosecutors investigating financial dealings of Manhattan properties
The Manhattan District Attorney’s Office is investigating financial dealings regarding former President Trump’s Manhattan properties, people familiar with the matter told The Wall Street Journal. The newspaper reported that the Manhattan District Attorney’s Office is probing loans that Trump took out for the buildings that were made by subsidiaries of real-estate investment trust Ladder Capital. Ladder Capital has lent Trump over $280 million for the four buildings since 2012, the newspaper reported, citing property records.
The buildings include Trump’s signature Trump Tower an art deco skyscraper in New York City’s Financial District; Trump International Hotel and Tower, a hotel and condominium building at Columbus Circle; and Trump Plaza.
Lawyers for Trump and the Trump organization declined to comment to the Journal.
The Manhattan D.A.’s office declined to comment.
The Trump organization didn’t immediately return a request for comment.
The investigation is the latest in Manhattan District Attorney Cyrus Vance’s probe into the Trump organization’s business dealings. Reports emerged last month that the probe had expanded to include the former president's Seven Springs estate in Westchester County.
The Journal noted that Vance and Trump are still locked in a legal battle over Trump’s tax returns and other financial information. The Supreme Court ruled in July that Trump had to hand over the tax records, but the former president has since appealed the ruling.
The high court hasn’t said if it will hear the case.
New York Attorney General Letitia James is also conducting a civil-fraud investigation into properties, the newspaper noted.
Trump and the Trump organization have decried the investigations as politically motivated.
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